Tooo bad.... Missed the whole party this morning.
- #822
- Edited 6:00am Jul 17, 2015 5:48am | Edited 6:00am
short on AU & AJ
goin for 10 pips each... COME OOOOOON
EDIT: closed both with a total win of +10.8
I'm fine with that, so I can leave the charts now 
Everyone a wonderfull weekend, see you on monday
goin for 10 pips each... COME OOOOOON
EDIT: closed both with a total win of +10.8
I'm fine with that, so I can leave the charts now Everyone a wonderfull weekend, see you on monday
short on AU & AJ goin for 10 pips each... COME OOOOOON
Great weekend to all.
My help is in the name of the Lord who made heaven and earth.
I just want to give this wonderfull thread my contribution!
Here are my 2 templates Iam using.
The first one is my main info chart with a news calendar, profit info, all pair spread info and the CSM
and here is my trading chart with all necessary infos like daily range, lot size calculator CSM etc.
plus I added another CSM with slopes for a better visualisation of the strength! actually, this indicator is a bit CPU consuming, so I recoomend you to use it on max 4 pairs. and when you change the pair, give it a bit time!
the template is setup to my screensize, so everyone who wants to use the templates has to make his own adjustments to the position of all indicators by changing the horizontal and vertical settings
Here are my 2 templates Iam using.
The first one is my main info chart with a news calendar, profit info, all pair spread info and the CSM
and here is my trading chart with all necessary infos like daily range, lot size calculator CSM etc.
plus I added another CSM with slopes for a better visualisation of the strength! actually, this indicator is a bit CPU consuming, so I recoomend you to use it on max 4 pairs. and when you change the pair, give it a bit time!
the template is setup to my screensize, so everyone who wants to use the templates has to make his own adjustments to the position of all indicators by changing the horizontal and vertical settings
I just want to give this wonderfull thread my contribution! Here are my 2 templates Iam using. The first one is my main info chart with a news calendar, profit info, all pair spread info and the CSM {image} {file} and here is my trading chart with all necessary infos like daily range, lot size calculator CSM etc. plus I added another CSM with slopes for a better visualisation of the strength! actually, this indicator is a bit CPU consuming, so I recoomend you to use it on max 4 pairs. and when you change the pair, give it a bit time!
My help is in the name of the Lord who made heaven and earth.
+10 on EA with slightly more risk on the lotsize. So Iam done for the day{image} checkin in later for the US session everyone some nice green pips, see ya's later
My help is in the name of the Lord who made heaven and earth.
Again my emotions played a part today. I was in +50 today morning but I was not able to close those trades as my emotions told they are still moving in my way and then lost all those pips... this is what happening for me for last few days. my target was to achieve only 30 pips a day but i am not able to stop trading after achieving that... so i decided to start a journal here and post my progress daily so that i should feel some responsibility... just a try...
- #832
- Jul 20, 2015 2:43am Jul 20, 2015 2:43am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
Again my emotions played a part today. I was in +50 today morning but I was not able to close those trades as my emotions told they are still moving in my way and then lost all those pips... this is what happening for me for last few days. my target was to achieve only 30 pips a day but i am not able to stop trading after achieving that... so i decided to start a journal here and post my progress daily so that i should feel some responsibility... just a try...
For Middle TZ strategy, from what I have seen, you are relying on a move to confirm TZ. This means a move could be any range that is acceptable to your parameter of 30 pips. In your situation this morning, you should have moved your SL to +30 as soon as price was at least 10 pips above it because it is never guaranteed that price will move in a straight line. Especially with no news.
I also suggest you create a separate journal and not crowd someone else's. This creates ownership and responsibility for you which means you'll end up picking better trades.
A pip is only worth it if you know how much you risked to earn it
Again my emotions played a part today. I was in +50 today morning but I was not able to close those trades as my emotions told they are still moving in my way and then lost all those pips... this is what happening for me for last few days. my target was to achieve only 30 pips a day but i am not able to stop trading after achieving that... so i decided to start a journal here and post my progress daily so that i should feel some responsibility... just a try...
gud luck...
{quote} This is an excellent idea. I think with this particular strategy, you need a fixed exit point. Exit points are more important than Entry. Entry creates risk. Exit stops risk. For Middle TZ strategy, from what I have seen, you are relying on a move to confirm TZ. This means a move could be any range that is acceptable to your parameter of 30 pips. In your situation this morning, you should have moved your SL to +30 as soon as price was at least 10 pips above it because it is never guaranteed that price will move in a straight line. Especially...
You are right Vlady... Owning a journal creates responsibility to not to screw up things... I was in GBPJPY, AUDUSD and NZDJPY long today morning and combining all three, i was at more than +50, but the next Supply zone was not yet achieved, so I waited but they started retracing even before that....
I am very much grateful to Albert and Jeetvirk who actually helped me to find this route for me...
- #836
- Jul 20, 2015 3:04am Jul 20, 2015 3:04am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
A pip is only worth it if you know how much you risked to earn it
Again my emotions played a part today. I was in +50 today morning but I was not able to close those trades as my emotions told they are still moving in my way and then lost all those pips... this is what happening for me for last few days. my target was to achieve only 30 pips a day but i am not able to stop trading after achieving that... so i decided to start a journal here and post my progress daily so that i should feel some responsibility... just a try...
What does a pip mean to us?.........
Can I take a pip daily?
Hmmmm If I started with a 1000$ account and traded daily 1 pip 10$ you will be risking all the 100 pips. The question still remains, can you take 1 pip a day, we see one pip everyday but we don't believe in it. if you can guarantee taking one pip per trade, consistently and compounding we will make it. I saw 80 pips on friday and like you I took it for granted. If I had taken even 20 pips I would have been very happy this weekend, guess what, I lost it and more.
We have to believe in the PIP, then gaining confidence we may add another pip. Jeet has been a great role model to me and I believe he inspires us all......
. When he says he is done for the day he is done and he means it .
My help is in the name of the Lord who made heaven and earth.
- #838
- Jul 20, 2015 3:22am Jul 20, 2015 3:22am
- Joined Jul 2009 | Status: Left Leg In, Right Leg Out! | 5,792 Posts
{quote} To be frank just yesterday I was deliberating on the meaning of trading. I thought through and deep, my realization was amazing. What does a pip mean to us?.........
My insight is that trading is 3 things:
1) Confidence of Self Expression (via Strategy Implementation & Money/Risk Management)
2) Continuity of a Trading Business
3) Reward of Lifestyle Objectives
A pip is only worth it if you know how much you risked to earn it.
A pip is only worth it if you know how much you risked to earn it
{quote} As a plan, this is great. The only caveat is that you need to incorporate being wrong into the plan. The PDF shows a growing account with no losses. It does not show RISK. I would suggest that if you can maintain 20 working days off a plan that trades 2R or 3R, then increase your lot size. This means that for your account's MAX risk, eg. 5%.... if this is 25 pips for example. Then you must consistently make 2R = 50 pips or 3R = 75 pips for 20 trading days before you increase lot size, otherwise you are not increasing your Trade Expectancy....
Thanks Vlady... As you told, I am going to keep the lot size constant for 20 working days without introducing the compounding now. After this, the next step would be to use compounding as well for next 20 days and see how it goes....
As you told, first we need to be confident in our trading plan.
{quote} To be frank just yesterday I was deliberating on the meaning of trading. I thought through and deep, my realization was amazing. What does a pip mean to us?.........